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Moon Jae-in to become President of South Korea: Economic Issues and North Korea

Moon Jae-in to become President of South Korea: Economic Issues and North Korea

Chika Mori and Lee Jay Walker

Modern Tokyo Times

The presidential election in South Korea witnessed no drama because like expected Moon Jae-in won smoothly from his nearest rival. Internationally, the emphasis is North Korea but economic factors and corruption – in relation to the former leader of this nation – were equally important internally. Indeed, youth unemployment, cronyism, and the traditional business reliance of chaebols (family-run conglomerates) are areas of huge concern for the people of South Korea. Therefore, Moon focused on a broad political strategy, in order to appeal to the electorate of South Korea.

It is known that Moon is more diplomatic towards North Korea based on past political actions. However, the current leader of North Korea is alarmingly unstable compared with the former leader of this nation during the optimistic period of the “Sunshine Policy.” Hence, Moon will respond to the shifting sands in North Korea, while being more open to talks if Pyongyang takes a more diplomatic approach. This applies to North Korea stepping back from over focusing on weapons of mass destruction and endless rhetoric.

The BBC says, “Mr Moon favors greater dialogue with North Korea, in a change to current South Korean policy.”

China will be optimistic that Moon will also reset the clock between both nations based on his more diplomatic approach. After all, China is a vital nation for South Korea based on economic and geopolitical factors. Therefore, tensions over the missile system THAAD led to unease in Beijing towards Seoul. However, this complex factor involves another pivotal nation, America. Hence, it is hoped that this issue doesn’t become a poison chalice for Moon who needs to tread carefully between America and China.

Indeed, prior to Moon emerging victorious, Reuters reported, “The front-runner in South Korea’s May 9 presidential election has called for a delay in THAAD deployment, saying the new Seoul administration should make a decision after gathering public opinion and more talks with Washington.”

It is hoped that political stability will return to South Korea after the debacle surrounding Park Geun-hye, the former leader of this nation. This applies to a powerful corruption scandal and the impeachment of Park by the parliament of South Korea. Therefore, the election of Moon will hopefully steady the ship in this nation and restore a new lease of life.